Business & Financial
Malta-Based Online Gambling Company Head Jailed 14 Months
Dimitrios Drosos, 45, director of betting company Gold Victory Ltd, has been jailed for 14 months after being convicted of defrauding several people of a total of €500,000.
The court found that the Malta-based company had not paid winnings to several players and the accused had pocketed the money.
€70,000 paid by the accused as bail money were forfeited after it was established that Drosos,a Greek national resident in Kappara, had jumped bail and escaped from Malta.
He was re-arrested on the strength of a European arrest warrant.
Introducing iPoker 2: Online Poker Network Split in Two
The world’s second largest “real money” online poker network, iPoker, has split into two with the new entity being called “iPoker 2”.
So what is iPoker 2?
It is for smaller player pools and will feature mid to low stakes of No Limit Hold’em cash games. iPoker1 will be for larger player pools. Those on the iPoker 2 platform will incorporate skins (independent card rooms) that have at least 6000 active customers (raking $1 or more a month) and acquiring a minimum of 850 new active players a month (raking $5 in the first 30 days).
A statement from iPoker read:
Burst Fish Tank Destroys Gulfstream Park Casino: Called ‘Catastrophic Failure’
The damage caused by a burst fish tank at South Florida’s famed Gulfstream Park Casino appears to be akin to that of a massive flood sweeping through two floors of this sprawling establishment. Hurricane Isaac didn’t even cause this type of damage to the Louisiana and Mississippi riverboat casinos. Who would have thought a ruptured 13,000 aquarium could cause such destruction?
GOP Platform on Internet Gambling May Have Been Influenced by Sheldon Adelson
Some in the gambling sector have begun to speculate that GOP political donor extraordinaire, casino mogul Sheldon Adelson, may have had a degree of influence as it relates to the newly released Republican platform from last week – You know the one, it espouses family values and how legalizing Internet gambling will lead to the destruction of such values.
Forbes: Is Zynga’s New 888 Hire a Means to ‘Exploit’ Gambling or Consumers
Inquiring minds want to know, or at least Forbes.com Financial columnist Louis Bedigian: Will Zynga's New Hire Exploit Gambling or Consumers?
The question is being asked after it was revealed that the world’s leading social media company and biggest operator of a “free-to-play” online poker room, Zynga, just hired 888.com’s former VP of Regulated Markets, Maytal Ginzburg. 888.com operates the world’s 4th largest “real money” online poker room and is widely seen as having one of the largest global Web casino businesses.
Circumstances Surrounding Tank Explosion at Gulfstream Park Casino Remain Fishy
The Sunday morning explosion of a 13,000-gallon saltwater aquarium at the popular South Florida Gulfstream Park casino remained a mystery Tuesday.
David Gzesh Confirms Sale of Seized Online Gambling Domains
Michael H. Berkens of TheDomains.com has confirmed that attorney David Gzesh purchased and put up for sale online gambling domain names previously seized by US authorities.
Burst Fish Tank Shuts Down Gulfstream Racing and Casino Park Gambling for Days
A burst fish tank has resulted in the shutdown of all gambling operations at Gulfstream Racing and Casino Park in South Florida.
The situation occurred on the facility’s second floor where the 13,000 gallon saltwater tropical glass tank broke early Sunday morning. Both floors of casino gambling had to be shut down.
Macau Says August Gambling Revenue Second Highest on Record
HONG KONG, (Reuters) - Gambling revenue in Macau grew 5.5 percent year-on-year in August, government data showed on Monday, signalling a muted pick up in growth buoyed by demand from mainland gamblers.
CEO Anthony Tailor Leaves Merge Gaming
Merge Gaming CEO Anthony Tailor has resigned from a position he has held for five years. Details regarding the exit were not immediately known, however, the popular online poker network continues to thrive and, just this week, flagship brand Carbon Poker announced the return of the super popular Poker Maximus promotion (dubbed Poker Maximus II).
9 Seized Online Gambling Domains Put Up For Sale Including DoylesRoom.com
Nine online gambling domain names seized as part of a sting operation by the US Attorney’s Office in Maryland have been put up for sale or license. These include DoylesRoom.com and Bookmaker.com.
Survey Says: PokerStars Could be Preparing to Enter Sports Betting, Casino Sector
Could the world’s largest “real money” online poker company, PokerStars, be looking at entering the sports betting and casino market?
Zynga Hires Former 888 Poker Exec in Sign They Are Moving Towards ‘Real Money’ Play
Zynga, the world’s largest free-to-play online poker social gaming company, has reportedly hired Maytal Ginzburg Olsha, the former Senior Vice President of Corporate and Regulated Markets at 888 Holdings, the parent company of 888 Poker.
Zynga fouder and CEO Mark Pincus told analysts back in July that the company intended to have “real money” play ready for early 2013.
Zynga has seen its stock price plummet in recent months as a number of high ranking executives have chosen to leave the firm.
Some Mississippi Gulf Coast Casinos Reopen After Hurricane Isaac
BILOXI — (Associated Press) - Some of the 12 casinos on the Mississippi Gulf Coast started reopening Thursday, just over a day after the most severe weather from Hurricane Isaac pushed through the area.
The two casinos in Hancock County closed Monday, and the 10 in Harrison County were ordered to close Tuesday as Isaac was still in the Gulf of Mexico.
New Maine Casino Nets a Whopping $10 Million in First Two Months
By CLARKE CANFIELD
PORTLAND, Maine (Associated Press) — Maine’s newest casino had revenues of nearly $10 million in its first two months of operation, while revenues at the state’s other casino in Bangor have fallen since the new casino opened.
Oxford Casino opened June 5 in the western Maine town of Oxford and had net revenues — the amount lost by gamblers — of $9.8 million in June and July combined. It paid nearly $4.1 million in taxes, according to the Maine Gambling Control Board.
888 Online Poker is Great, Playtech Good Things Might Come to Those Who Wait
It’s a tale of two cities when discussing recent performances of top five leading online poker ventures, 888 and Playtech.
While 888 Poker, the world’s number four online poker company in terms of overall traffic, claimed this week that poker was the primary reason for its 70 percent increase in revenue for the first half of 2012, Playtech, operator of the world’s second biggest Internet poker network, iPoker, reported less-than-stellar results on the poker side of its business.
British Poker Pro Sam Trickett Becomes International Stadiums Poker Tour Ambassador
The International Stadiums Poker Tour has named British poker pro Sam Trickett as its newest ambassador.
The ISPT, conceived by Bernard and Laurent Tapie along with Prosper Masquelier, looks to assemble some 30,000 players at Wembley Stadium next May, all of whom will be competing in the world’s largest poker tournament. The ISPT will kick off on laptops then switch over to a live format once 90 percent of the field is eliminated. There will be a guaranteed prize pool of a guaranteed prize pool of €20,000,000.
Jim Rome ‘Imposter’ Acting as Spokesperson for Fantasy Football Website FanDuel
DeadSpin.com is reporting that the popular Fantasy Football website FanDuel has begun to use a Jim Rome “imposter” as a spokesperson for the company.
The DeadSpin.com site points to an ad that actually has been running during Jim Rome’s sports talk program.
From DeadSpin:
British Olympian Gymnast Sam Oldham’s Granny Finally has Cashed Her BetFred Checks
After a long and unnecessary ordeal, the grandmother of Great Britain Olympian bronze medal gymnast Sam Oldham finally has cash in hand for the entire €1000 owed to her by bookmaker BetFred.
You might recall that BetFred initially refused to pay Linda Aldred, 66, her £1000 winnings on a £5 bet that her grandson Sam would win an Olympic medal. BetFred claimed the bet was on an individual medal and that the team, not Sam specifically, won the bronze. Great Britain won its first Olympic medal in 100 years.
Japanese Pachinko Tycoon Kazuo Okada Sues Wynn Resorts
TOKYO (Associated Press) Japanese pachinko tycoon Kazuo Okada has filed a lawsuit in Tokyo District Court seeking $140 million in damages from casino operator Wynn Resorts.
Universal Entertainment said in a statement Wednesday that it is seeking damages for harm caused to its share price and business due to Wynn's decision to remove Okada as a board member and reclaim the $2.77 billion of shares in the company owned by Okada's company, Universal Entertainment Corp.
888 Poker in Talks With Facebook Regarding ‘Real Money’ Online Poker
888 Poker has begun talking with Facebook, the social media giant, to bring “real money” online poker to jurisdictions where such activity is permitted, a la Great Britain, according to a report on eGaming Review.
The news comes amidst reports that 888 Holdings second quarter costs have put a strain on margins, though the company is realizing a pretax profit of $18.36 million for the half year ended June 30, compared with loss of $22.10 million a year earlier. Revenue advanced 21% to $186.4 million.
Warren Buffet Hosts Private Poker Tournament: Corzine Son Makes Final Two Cut
Forbes writer Randall Lane offered up an exclusive look at what it’s like to take part in Warren Buffet’s private poker tournament, the Berkshire Hathaway’s NetJets Poker Invitational. Even the name is intimidating.
The comp features a prize pool of US$500,000, however, Lane claims that invitees are more interested in the bragging rights that come with taking part in such a tournament.
The minimum cost to enter is US$200,000 and there are just 240 seats open to participants.
Zynga Chief Creative Officer Mike Verdu Exits to Start New Gaming Co, Backed by Zynga
Zynga’s Chief Creative Officer Mike Verdu may be on his way out the door, but his new online gaming venture will have backing from none other than….ZYNGA.
Without revealing the name of his new venture, Verdu disclosed that Zynga will be a primary investor.
BetFred Pays Olympian Sam Oldham Grandma With ‘Bad’ Check
BetFred finally paid British Olympian gymnast Sam Oldham’s grandma. Too bad the check was no good!
Perhaps it was just an honest mistake but Linda Aldred tells Gambling911.com BetFred sent her and Sis two separate checks, neither of which were signed.
“BetFred say they send out plenty of cheques (so) it is no unusual for an odd one to go unsigned,” Ms. Aldred said. “Strange that two in the same dispute happen not to have been signed.”
Last Man Standing Program Brought Back to Online Poker Room Carbon Poker
After the tremendous success and popularity of the Last Man Standing program at Carbon Poker earlier this year, they’ve decided to bring it back for the month of September. This time around there is over $32,000 in cash prizes for players to win as their poker endurance will be tested for the entire month.
No Casino in Chicago as Illinois Governor Rejects Gambling Expansion Plan
By SOPHIA TAREEN
CHICAGO (Associated Press) - Gov. Pat Quinn has rejected a plan to expand gambling in Illinois, including a land-based casino in Chicago.
The Democrat announced his veto Tuesday, saying the proposed bill lacked sufficient regulatory oversight.
The bill proposed five new casinos, including the Chicago facility and four more on riverboats.
PokerAce.com Launches as Newest Online Poker Network: Targets Asian Players
A new online poker network emerged this past week, which looks to target the Asian poker playing market. PokerAce.com has launched with a bang, offering up the likes of World Series of Poker Main Event champion Joe Hachem and JC Tran as its spokespersons. The company has developed its own proprietary card room and will license to other “skins” using a model similar to that of Merge Gaming and iPoker.
Online Sportsbook Seeing Nice Spike Ahead of NFL, College Football Betting
The boutique online sportsbook, Northbet, tells Gambling911.com they are already seeing some decent traffic coming in ahead of the upcoming College Football and NFL betting season, economy aside.
“The economy is always a factor, but we don't expect it to be any different than the past 2 years,” a Northbet representative tells Gambling911.com. The company is heading into its third College Football and NFL betting season.
Fifth Street Gaming Takes Over Casinos at Gold Spike and Siegel Slots in Vegas
(Associated Press) - Fifth Street Gaming says it is taking over gambling operations at two Las Vegas hotels, the Gold Spike and Siegel Slots and Suites.
Both hotels are properties of the Siegel Group, which owns several boutique hotels, apartment complexes and other developments.
The contracts announced Monday are subject to approval by gambling regulators. Terms weren't disclosed.
Golden Route Operations currently operates gambling at the two properties.
Everest Poker to Join iPoker Network
Everest Poker is doing away with its own proprietary online poker software to join the world’s second largest network, iPoker.
The move comes at a time of slumping traffic over the past six months that has resulted in a 30 to 40 percent decline in cash game action.
